Breakwater Capital Group Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Breakwater Capital Group trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,677 shares of the medical technology company’s stock after selling 57 shares during the period. Breakwater Capital Group’s holdings in Stryker were worth $600,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Burkett Financial Services LLC bought a new position in Stryker during the fourth quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares during the last quarter. Rogco LP bought a new stake in shares of Stryker in the 4th quarter worth about $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker in the 4th quarter worth about $34,000. Finally, HBC Financial Services PLLC bought a new stake in shares of Stryker in the 4th quarter worth about $37,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.1 %

NYSE:SYK opened at $340.25 on Monday. The company has a market cap of $129.62 billion, a PE ratio of 38.84, a P/E/G ratio of 2.68 and a beta of 0.89. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $337.38 and its two-hundred day moving average is $333.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the business posted $2.14 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts anticipate that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SYK shares. Roth Mkm raised their target price on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Piper Sandler raised their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company raised their target price on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Robert W. Baird raised their target price on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Evercore ISI lifted their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $370.58.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.